Pfizer Shares Surge After Release Of 'Miracle' COVID Pill That Is 89% Effective At Prevent

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Thursday was a rough day for Moderna shares after the company released revenue figures and FY guidance that deeply disappointed Wall Street expectations (potentially destroying the reputation of financier Steve Weiss, arguably Moderna's biggest promoter on Wall Street, in the process). But on Friday, Pfizer - Moderna's biggest rival - rubbed Moderna's nose in it by announcing a revolutionary new oral COVID antiviral similar to the Merck 'miracle pill' that won approval from UK regulators yesterday. The news sent Pfizer's stock surging, while Moderna and Merck shares tumbled, during premarket trade. Pfizer shares were trading up 11%+:

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The key takeaway from the Pfizer announcement is this: Pfizer said studies showed its COVID-19 pill reduced hospitalizations and deaths in high-risk patients by 89%. That's even higher than the 50% reduction in hospitalizations and deaths shown by the Merck pill.

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Both the Pfizer and Merck pills are both geared toward patients regarded as high-risk, including those above the age of 60 or with conditions like obesity that make them more susceptible to severe consequences from COVID.

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Criticisms have also been made about the cost of molnupiravir, and Pfizer CEO Albert Bourla already affirmed on CNBC that a course of the drug will cost insurers or customers around $700 (though the firm says it intends to sell the drug at a "discounted" prices to "poorer countries".

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But while experts again touted the drug's safety profile, several scientists have spoken out about potential safety risks tied to molnupiravir, the Merck drug.

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Another important question: what does this mean now for President Biden's increasingly coercive vaccine mandate?

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